China tells United States trade door 'always open'

Ivanka Trump and her son Theodore Kushner

Ivanka Trump and her son Theodore Kushner

Cars to be exported are seen at a port in Lianyungang in China's eastern Jiangsu province on May 31. Mnuchin and White House economic adviser Larry Kudlow are free-trade supporters regarded as more conciliatory toward Beijing than Robert Lighthizer, the US trade representative, and Navarro, the administration's fiercest China hawk.

However, the ship never reached that destination either, as in mid-May China ended its anti-dumping and anti-subsidy probe related to sorghum, reflecting an easing of trade tensions between the country and the United States.

But the USA undermined the alliance on Thursday by slapping key allies and trading partners - Canada, Mexico and the European Union - with tariffs of 25 percent on steel and 10 percent on aluminum. Under the deal, ZTE will oust its management team, hire American compliance offers and pay a fine - on top of the $1 billion it's already paid for selling equipment to North Korea and Iran in violation of USA sanctions.

National Pork producers Council is calling for a swift resolution of the trade dispute with China - the world's largest pork-consuming nation - saying it has cost pork producers $2.2 billion on an annualized basis.

Economists say the changes also can help generate jobs in China by allowing consumers to buy higher-quality goods locally instead of when they travel overseas.

Hua also called for handling trade disputes through talks on an equal basis and in a constructive way, which is "in line with the fundamental and long-term interests of both the Chinese and American people, as well as the common aspirations of the worldwide community".

In the statement announcing the new investment restrictions, the United States government said it will "continue to pursue litigation at the WTO" against China.

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She urged the U.S. to "follow the spirit" of the recent consensus reached between Washington and Beijing, to abandon trade wars and back off imposing tariffs on each other.

The U.S. also wants its representatives to make site visits to check ZTE's claims about components without coordinating with Chinese government officials, as required by a non-public agreement between the countries, sources said.

"Personnel exchanges are the foundation to boost cooperation in all fields between China and the United States".

Prime believes it is bad for Washington's credibility and gives hardliners in China ammunition to oppose moves to open up the economy.

Seeking leverage, Trump's administration launched an investigation into whether tariffs might be necessary on auto imports, based on national security concerns.

However, the White House was quick to response, issuing a statement on Tuesday that a final list of imports slated for tariffs will be published by June 15, 2018.

New investment restrictions would also be implemented with regards to the acquisition of technology deemed industrially significant, with an announcement with more details coming June 30 and implementation taking place soon afterwards.

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